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In a recent transaction, Hayden Brown, President and CEO of Upwork Inc. (NASDAQ:UPWK), sold 9,075 shares of the company’s common stock. The shares were sold at a weighted average price of $13.0693, totaling approximately $118,603. According to InvestingPro data, Upwork, currently valued at $1.82 billion, trades at an attractive P/E ratio of 8.4x and maintains impressive gross profit margins of 77.4%. This sale was conducted on March 18, 2025, as part of a "sell to cover" transaction to fulfill tax withholding obligations related to the vesting of Restricted Stock Units (RSUs).
In addition to the sale, Brown also acquired 17,733 shares of common stock through the conversion of RSUs at no cost. Following these transactions, Brown’s direct ownership of Upwork’s common stock stands at 1,223,741 shares.
In other recent news, Upwork Inc. has been the subject of several analyst updates following its impressive fourth-quarter earnings results. UBS increased its price target for Upwork to $19, maintaining a Neutral rating, after the company surpassed expectations in gross services volume, take rate, and margins. Similarly, Needham raised its price target to $19, reiterating a Buy rating, and highlighted Upwork’s strategic focus on artificial intelligence and enterprise solutions as key drivers for future growth. Jefferies also raised its price target to $21, noting the company’s strong EBITDA margin improvement and attractive valuation metrics.
Goldman Sachs expressed a positive outlook by raising its price target to $25, citing Upwork’s potential growth in a changing work environment and its focus on product innovation. JMP Securities maintained a Market Outperform rating with an $18 price target, emphasizing Upwork’s strategies for revenue growth and cost optimization. Analysts have noted Upwork’s ability to navigate macroeconomic challenges while achieving margin expansion and strategic repositioning. As the company continues to enhance its platform and capitalize on new opportunities, investors are closely monitoring Upwork’s execution and financial performance.
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